A tobacco manufacturer registered in India settled OFAC charges for violating North Korea sanctions regulations.
OFAC issued preliminary guidance on the implementation of a price cap policy related to the partial ban on the import of petroleum products originating from the Russian Federation.
OFAC determined that an Executive Order prohibiting new investment and services to the Russian Federation applies to the maritime transportation of Russian Federation-origin crude oil and petroleum products purchased under a certain price cap.
Treasury issued "Preliminary Guidance on Implementation of a Maritime Services Policy and Related Price Exception for Seaborne Russian Oil."
OFAC sanctioned two individuals, 13 entities and two vessels for facilitating the sale and transport of Iranian petroleum and petrochemical products.